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will crash a little bit. i don't want to say crash as in crash but we could retrace some of the gains and a rough start to 2013 until they finally realize that maybe the large-cap companies could be leading us through the rallies. maybe it will take the stocks back up the latter half of 2013, first quarter. >> oliver, what are you doing with your clients' money right now? >> we think there will be a selloff as a result of all of this and also the debt ceiling debate coming up at the end of january and that's a buying opportunity because there's relatively strong, and strong gdp growth in the second half of 2013 so we would see a 5%, 7% selloff as a heck of a buying opportunity early in the year. >> i see you've got a year-end target for 2013. 1540, actually -- just looking at the 2013 predictions, you're pretty bullish. >> yeah. we think we're going to see a 6%, 6.5% return on the s&p. we think dividend-paying stocks will do even better and will focus on companies that are growing revenues and paying a strong dend. >> can i ask you a question about that scenario. >> of course. >> supp
york. we don't have to get on an airplane. >> sold out at the blue note. two shows a night. 21 nights in a row. come down. shows are 8:00 and 10:30. there are usually a couple seats left because people can't make it to new york at the last minute but call the club or whatever. very, very famous legendary jazz club the blue note. >> usually room at the bar. >> there's always room at the bar. >> we'll see you in an hour for the closing bell. thanks so much. >> thanks, bob. speaking of the market shortened session one more hour. let's head over to maria at post 9. >> thanks, carl. hi everybody. welcome to the closing bell. i'm maria bartiroma at the new york stock exchange. no, your watch is not wrong. the closing bell ringing three hours early today at 1:00 eastern for christmas eve. hi, bill. >> hey, maria. i'm bill griffith here at cnbc world headquarters. a down day not terrible, light volume as you might imagine on this half day. the dow down about 40 points right now. 46-point decline at 13,144. all the other major averages lower as well. the nasdaq at this hour down about ten poin
which deductions we're talking about and any timetable for them? >> i have to confess, bill, i don't know how exactly that works. these are provisions that were first initiated in the 1990s as a way of getting more revenue from people at the top without raising their rates. so what you do is you take the same deductions that other people can take and you limit their value over a certain income level. this is in addition to something the president's proposed of making the tax deductions for people above a certain income level valued only at a lower percentage tax rate than the 39.6% rate. we'll see how all of these things mesh and how they're implemented ultimately. but it's a way of getting money from people below the $400,000 threshold. >> we'll get back to you shortly. >> i've got one more question. i hear maybe republicans want that to come down in exchange for allowing any increase on the higher income individuals. >> i think the republicans have given up the ghost on that issue because it's republicans who have been pushing the idea that this is all buttoned up and it's why mc
by the developments out of washington. >> yeah, sure, if we don't see any kind of compromise whatsoever, you'll see this s&p 500 trading in the 1360s next week. i think you'll get a short-term deal, address some of the issues, not really solve anything, kick the can down the road much like they do in europe and get your mild positive reaction going into the jobs data on friday. >> do you think we get a definitive move in this market one way or the other with some announcement out of washington, or is this market just so tired of all of the developments there? what do you think? >> well, there's still a risk-on trend, and if they kick the can down the road or actually come to some kind of compromise, that trend is intact, and you'll see going into the first few months of the year i believe very positive price action for all the equity indexs? >> what now, rick? what say you? what now? >> i liked dan greenhouse's comment. in a perverse sort of way. if there really is any austerity, you'll hear an ouch or some squawking or bellyaching which is the fiscal cliff. if we went over the cliff, they be we ac
the president's last offer after we go over. >> wait a minute. you don't necessarily see any of the developments today as progress per se? >> no, i don't. in fact, if you actually listened theord the thoeks are s saying to each oh, we're here but not willing to talk to each other about anything substantive, and it's also very difficult for me to imagine any new kind of offer or plan coming into the mix that could be absorbed in a matter of days so base include all the offers are on the table and i don't see a clear political path to any one of them prior to going over the cliff. >> you know, rick santelli, i love this country. i chose to move to this country, but i'm getting very frustrated with the leaders of this country. >> welcome to america. >> they are teaching us fiscal irresponsibility. want us to pay our mortgage on time, pay our taxes on time when they seem to not be able to do anything on time themselves. >> well, that's a softball for you, rick. >> and the entire argument that, you know, the wealthy, they don't mind. they vote for higher taxes. they don't spend the money anyway. tell
Search Results 0 to 4 of about 5